Investment veteran Cathie Wood has sold $12 million in Coinbase shares as the stock price surpassed $90.
Highlights
- Investment veteran Cathie Wood has sold 135,152 shares worth $12 million from one of ARK’s major exchange-traded funds, the ARK Innovation ETF.
- Wood has been actively accumulating the stock in multiple ARK funds since March.
- The sale comes as the price of the stock price surpassed $90 on July 11, according to TradingView data.
- In June alone, ARK purchased about $40 million of Coinbase shares in June.
- The rise of the price comes despite the exchange facing a securities violation lawsuit from the U.S.
- Securities and Exchange Commission, which has accused the exchange of being a surveillance-sharing partner with BlackRock of filing a Bitcoin exchange filing.
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